Mr. Speaker, I want to thank my hon. colleague for a very interesting speech about the financial issues in the budget.
One issue that he did not cover, and which I was having trouble covering, is one that had been brought forward by the finance minister in his speech. It is the discussion about closing the tax loopholes. I went through the whole budget document trying to find out if anything was addressed toward this, trying to find out whether the government had set any targets, identified any areas or was proposing any real solutions for the tax loopholes that exist.
Earlier I heard in the House that there are Canadian assets worth some $88 billion in offshore companies. This is a huge issue. For the finance minister to say in his speech that he is going to do something about it, without any indication of what that is going to be, where that is going to take us, or what the proposed targets are going to be for that kind of action, is just another case of window dressing.
I would like to ask my hon. colleague, who is on the finance committee and has heard representations on this issue, if he could enlighten me a bit about this.